Alkermes (NASDAQ:ALKS) Given Neutral Rating at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Alkermes (NASDAQ:ALKS) in a research report released on Friday morning, Benzinga reports. HC Wainwright currently has a $35.00 target price on the stock.

Other research analysts have also issued reports about the stock. UBS Group lowered shares of Alkermes from a neutral rating to a sell rating and set a $25.00 price objective for the company. in a research note on Tuesday, February 20th. Bank of America lifted their price objective on shares of Alkermes from $27.00 to $29.00 and gave the stock a neutral rating in a research note on Tuesday, January 2nd. Piper Sandler reaffirmed an overweight rating and set a $39.00 price objective on shares of Alkermes in a research note on Monday, April 1st. Jefferies Financial Group lifted their price objective on shares of Alkermes from $42.00 to $50.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Finally, TheStreet raised shares of Alkermes from a c+ rating to a b rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $35.38.

Alkermes Trading Up 0.9 %

ALKS stock opened at $24.07 on Friday. The firm has a fifty day moving average price of $27.74 and a 200 day moving average price of $26.96. Alkermes has a fifty-two week low of $22.01 and a fifty-two week high of $33.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.50 and a current ratio of 2.86. The firm has a market cap of $4.07 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.64 and a beta of 0.56.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.29). Alkermes had a net margin of 21.39% and a return on equity of 16.10%. The business had revenue of $377.50 million during the quarter, compared to analysts’ expectations of $362.78 million. During the same period last year, the business posted ($0.02) earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. Sell-side analysts anticipate that Alkermes will post 2.27 earnings per share for the current fiscal year.

Alkermes declared that its board has authorized a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the transaction, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at $1,852,099.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Alkermes by 52.7% in the third quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock valued at $329,028,000 after acquiring an additional 4,055,926 shares in the last quarter. RTW Investments LP grew its stake in Alkermes by 338.8% during the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after purchasing an additional 3,012,450 shares in the last quarter. Vanguard Group Inc. grew its stake in Alkermes by 12.3% during the 4th quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after purchasing an additional 2,288,185 shares in the last quarter. Norges Bank acquired a new stake in Alkermes during the 4th quarter valued at approximately $55,548,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Alkermes during the 3rd quarter valued at approximately $36,171,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.